The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Korea Investment CORP

Korea Investment CORP lowered its stake in The Bank of New York Mellon Co. (NYSE:BK) by 12.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 626,060 shares of the bank’s stock after selling 89,585 shares during the quarter. Korea Investment CORP’s holdings in Bank of New York Mellon were worth $48,100,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BK. Cape Investment Advisory Inc. lifted its position in shares of Bank of New York Mellon by 12.6% in the fourth quarter. Cape Investment Advisory Inc. now owns 1,172 shares of the bank’s stock valued at $90,000 after acquiring an additional 131 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in Bank of New York Mellon by 0.4% in the 4th quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank’s stock valued at $2,653,000 after purchasing an additional 133 shares in the last quarter. Grove Bank & Trust boosted its stake in Bank of New York Mellon by 21.0% during the 4th quarter. Grove Bank & Trust now owns 779 shares of the bank’s stock worth $60,000 after purchasing an additional 135 shares during the last quarter. Valeo Financial Advisors LLC grew its holdings in shares of Bank of New York Mellon by 1.6% during the fourth quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank’s stock worth $695,000 after buying an additional 139 shares in the last quarter. Finally, Stratos Investment Management LLC raised its position in shares of Bank of New York Mellon by 2.9% in the fourth quarter. Stratos Investment Management LLC now owns 5,109 shares of the bank’s stock valued at $393,000 after buying an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 0.5 %

NYSE:BK opened at $84.63 on Friday. The Bank of New York Mellon Co. has a 52 week low of $52.64 and a 52 week high of $90.34. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The stock’s fifty day moving average is $85.35 and its two-hundred day moving average is $79.42. The stock has a market capitalization of $60.77 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.18. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.66 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. Bank of New York Mellon’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period last year, the business posted $1.28 EPS. Research analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Monday, January 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 32.36%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on BK shares. StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Barclays boosted their target price on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $90.00 price target on shares of Bank of New York Mellon in a report on Monday, March 17th. Truist Financial boosted their price objective on Bank of New York Mellon from $91.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and an average price target of $89.71.

About Bank of New York Mellon

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.